Business Briefs | AOL Latin America Files Chapter 11 Bankruptcy

Published: June 25, 2005

America Online Latin America, an Internet provider that is 30 percent owned by Time Warner, filed for Chapter 11 bankruptcy protection after it was unable to attract enough customers to turn a profit. AOL Latin America's Internet subscribers will continue to receive service without interruption, the company said. In its bankruptcy filing, the company listed $28.5 million in assets and $181.7 million in debts, including a $160 million unsecured loan owed to Time Warner. AOL Latin America is based in Fort Lauderdale, Fla.